Celgene Corporation (NASDAQ:CELG) had its price target raised by equities research analysts at Mizuho from $134.00 to $158.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Mizuho’s price objective would indicate a potential upside of 11.24% from the company’s previous close.
A number of other analysts also recently issued reports on the stock. Leerink Swann upgraded shares of Celgene Corporation from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $94.42 to $150.00 in a report on Friday, June 16th. They noted that the move was a valuation call. William Blair reiterated an “outperform” rating on shares of Celgene Corporation in a research note on Monday, June 26th. Cantor Fitzgerald reiterated a “buy” rating on shares of Celgene Corporation in a research note on Monday, August 28th. BTIG Research downgraded shares of Celgene Corporation from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $96.93 to $131.70 in a research note on Friday, June 30th. Finally, Canaccord Genuity set a $156.00 target price on shares of Celgene Corporation and gave the stock a “buy” rating in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $149.34.
Celgene Corporation (CELG) opened at 142.04 on Friday. The company has a 50-day moving average of $134.97 and a 200-day moving average of $127.46. Celgene Corporation has a 52 week low of $96.93 and a 52 week high of $142.69. The firm has a market cap of $111.12 billion, a price-to-earnings ratio of 43.99 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter last year, the company posted $1.44 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities research analysts forecast that Celgene Corporation will post $7.33 earnings per share for the current fiscal year.
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In other news, insider Robert J. Hugin sold 175,970 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total value of $23,604,615.80. Following the completion of the sale, the insider now directly owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gilla Kaplan sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the completion of the sale, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,476 shares of company stock valued at $35,812,841. Company insiders own 0.95% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Nicolet Bankshares Inc. purchased a new position in shares of Celgene Corporation in the first quarter worth $187,000. Global Thematic Partners LLC increased its stake in shares of Celgene Corporation by 50.3% in the first quarter. Global Thematic Partners LLC now owns 448,251 shares of the biopharmaceutical company’s stock worth $55,778,000 after buying an additional 149,964 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of Celgene Corporation by 3.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 20,674 shares of the biopharmaceutical company’s stock worth $2,405,000 after buying an additional 635 shares during the period. Taylor Wealth Management Partners increased its stake in shares of Celgene Corporation by 844.3% in the first quarter. Taylor Wealth Management Partners now owns 15,033 shares of the biopharmaceutical company’s stock worth $1,871,000 after buying an additional 13,441 shares during the period. Finally, Sippican Capital Advisors increased its stake in shares of Celgene Corporation by 37.0% in the first quarter. Sippican Capital Advisors now owns 4,513 shares of the biopharmaceutical company’s stock worth $562,000 after buying an additional 1,218 shares during the period. Hedge funds and other institutional investors own 79.43% of the company’s stock.
About Celgene Corporation
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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